India contributes almost 80% of Sequoia backed co’s revenues and over 70% of daily active users. Regulatory and legal crackdowns have forced the company to skirt “regulations and/or avoiding taxes through uncreative loopholes” Viceroy said in the report published Wednesday.
IndiGo profit falls on higher cost on older planes
The airline was forced to induct older planes due to grounding led by issues of Pratt & Whitney engines